Why SZLS stock soared 115% & will it gain more investor attention?

3 min read | November 24, 2021 01:53 AM AEDT | By Raza Naqvi

Why SZLS stock soared 115% & will it gain more investor attention? — Image source: © Solarseven | Megapixl.com

Why StageZero Life Sciences (TSX:SZLS) stock is soaring?

On November 22, the stock of the healthcare company spiked as it announced that people in the Greater Toronto Area can now access its product named ARISTOTLE®, which is a multi-cancer blood test.

StageZero stock performance

ARISTOTLE® can reportedly detect multiple cancers from a single blood sample and is built on StageZero's proprietary mRNA technology. Cancer is responsible for majority of the deaths in Canada and investors are giving attention to the stock probably due to this reason.

In 2021, around 229,000 Canadians are expected to be diagnosed with cancer and its treatment is more effective if detected at an early stage.

Before this announcement, the company had said on November 19 that its BORDERPASS™ COVID-19 RT-PCR saliva test is now available, and it will allow people to collect their saliva samples conveniently.

As border restrictions are being eased, travellers will be able to use this product without needing to find an RT-PCR clinic and BORDERPASS™ PCR test results are accepted at Canadian, the US, and most international borders.

Bottom line

In the third quarter of this year, StageZero Life Sciences generated a revenue of US$ 0.68 million, down from US$ 1.46 million in Q3 2020.

Meanwhile, the company's consolidated net loss was US$ 2.2 million in Q3 2021, compared to a net loss of US$ 2.3 million in the same quarter of the previous year.

Also Read: 3 Canadian healthcare stocks to keep on your radar

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